Rajiv Shastri, CEO, Essel Finance Mutual has put in his papers, said two sources familiar with the development.
Rajiv may not join a mutual fund company; however, he will continue to be in BFSI space, said sources.
The sources have confirmed that SREI Infrastructure will buy Essel Finance Mutual Fund subject to regulatory approval.
SREI Infrastructure is already into Infrastructure Debt Fund (IDF) business and has AIF, insurance broking and infrastructure financing business.
Prior to joining Essel MF, Rajiv was the CEO of Peerless MF, which was acquired by Essel Finance. With 24 years of experience in the mutual fund industry, Rajiv has worked with Pramerica, Birla Sun Life, ABN AMRO (now BNP Paribas Mutual Fund), HDFC, DSP Merrill Lynch (now DSP) and Sahara.
